Rosy, be very careful of advertised properties that are not listed through a Realtor. Most of the RENT-TO-OWN advertisements are scams.
Most of these advertisements are properties that are in foreclosure and you most likely may not have the time to purchase the unit from the actual owner.
A true rental with an option to purchase has to have a tangible consideration on top of the market rental price. This consideration can be paid monthly in addition to the monthly rent or can be paid as a non-refundable one time up front payment. This consideration freezes the sales price at today's value and you have the advantage of buying a year from now at yesterday's price and the option is applied towards your down payment. If you do not execute the option, you forfeit the option.
Give us a call and we will gladly guide you through the process.
Lawrence Soto, Broker
Global Trust Realty, LLC